1 Company Now Holds Nearly 5% of All Ethereum. That's An Obvious Sell Signal

What is Ethereum (CRYPTO: ETH) worth? That's the big question facing BitMine (NYSE: BMNR) shareholders today. How you answer that question will likely predict whether you think owning BitMine is a good or bad idea. For me, the fact that BitMine owns nearly 5% of all of the Ethereum created is a signal to sell the stock and avoid the cryptocurrency. Here's why.

When you buy shares in a company, you are buying a part of an operating business. The business is what backs the valuation of the stock. Sure, in a worst-case scenario, a company may go bankrupt. But there are still physical assets that can be sold to repay creditors and, if anything's left, return some value to shareholders. That isn't the case with a cryptocurrency.

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The only thing backing Ethereum is people's belief in its value. If that belief goes away, Ethereum's value will fall to zero. And there won't be any assets left over to sell, so there won't

Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/crypto/articles/1-company-now-holds-nearly-043500204.html)